Hi Guys, First post...yay! I found this forum a few days ago and have been reading a lot of posts ever since. Cos I'm I'm a bit thick though I'm still a tad confused on which way to proceed so was hoping for some further help from the experts. My wife and I have decided to start buying some gold/silver for the future nest egg, we have NO faith in superannuation and want to protect our small amount of cash from inflation. We are happy to gather and hold for the next 20-25 years when we'll be at retirement age. So what should we be looking to aquire? Coins, bars, sizes, gold, silver? Thanks in advance.
If you're looking at that kind of time frame, plenty of scope to dabble in both metals and various forms IMO. Having said that if this is purely an investment rather than a hobby, you probably want to approach it with the "silver is silver" mentality and just get the maximum ounces for your dollar. This generally means poured bars (10 oz and 1 kg for silver, 1 oz+ for gold), though for gold the PM minted bars in certicards are often as cheap as, or cheaper than, the poured bars.
Regarding super, how do you invest in Pm's? Is it through certificates only? Surely you can't buy physical? If so, who stores it?
Thanks for the quick replies. "though for gold the PM minted bars in certicards" PM= Perth Mint? As for rolling super into a SMSF I'll check it out with my accountant, personally mine is under 20K as I haven't been working the last few years, most of it is in the Mrs' super account so that's something we can chat about.
easier to keep stacking if you enjoy it.. so try getting a couple of coins and bars and see what tickles your fancy?
There is no rush to make a decision, silver isn't going anywhere. Take a bit more time to read the forums (you will find that there is no correct answer, everyone has different opinions). Once you have been through the forums you can start to see what others are up to and you might like what they are doin or you might not.
JisLizard has it about right. If you're looking over 20 years plus, you got no rush on your time. Fiddle about, buy some stuff, figure out what you like, maybe the Numi side appeals to you, maybe not. Personally, I'm buying both Gold & Silver, coins and bars. No harm in having some of each.
Thanks for the replies so far. Been doing some searching through the forums today and have more questions. Is there a thread somewhere that has a list of all the acronyms? What are 'kooks'? (krugerands?) Also where are the best places to buy in Australia? Is it just a matter of doing the rounds on the day or are some places preferred over others? Is it worth buying from overseas or does the freight/insurance make it not worthwhile?
Kooks are kookaburra's Depends what state your in Don't bother buying OS , just more headaches there As I said buy local http://forums.silverstackers.com/topic-880-buying-silver-in-australia.html
Any of the forum sponsors are good places to buy from (over the internet) Depending on where you live you might also have some places selling bullion locally. I don't, being in Canberra, but the larger cities do. And if you're in Perth you can buy from the mint directly, though their prices are usually higher than what third-party dealers will charge you for the same items.
Glad you asked. I don't think so. Do not, I repeat do not ask what a "BUZZ" or a "BUMP" is. You will get smiley laughs from here to the moon. Outside of the Stacker's World a "Buzz" could be a number of things to different people. Ex: Electrician who gets zapped. Enjoying you favourite piece of music. Being on a natural high. Buzz out of life. To a Junkie, something completely different However, here it is like a "Buzz Button on the TV GameShows" except here we don't have the button, means you have just bought something when you type in the word "Buzz". on the Selling and Trading section of SS. Oh Yes!! Thats another one. SS does not mean part of the Nazi Party or Secret Service. It's short for Silver Stackers. You probably already knew that one. OK, this is the "Biggy". What do you think a "BUMP" is? A reasonable person would think it to be a Prod or a Push. However, this one really stumped me for a while. In the Auction, Selling section, a seller or a potential buyer will write "Bump" just so that the add by the Seller moves up to the top of the list again rather than it dissappearing into the "Never Never" with no sale. Therefore, both Bump and Buzz are pretty important if you plan on doing any buying or selling here. Cheers markcoinoz
Not sure where in Australia you are but most states have a get together every few months, see if you can get along to one of those. If you want something from abroad hang around here for a bit, someone will eventually put together a 'group buy' and you share the costs of postage and bank transfers etc. From the states this is usually a dealer called Maggie, she is a good person to deal with. If no one puts together a group buy for something that probably means it isn't popular and you are best off avoiding it anyway. PM can stand for Private Message, Perth Mint or Precious Metals, depending on the context. If you buy small amounts some dealers will hold on to your items if you ask nicely and then post them all in one go, saves postage, just ask for mini allocated.
